What is the reserve fund for repair of condominiums? Will there be a price increase in the future?Mortgages aren't the only things you pay monthly after you buy an apartment. After purchase, you will also have to pay a management fee and a reserve for repairs. Moreover, the reserve fund for repairs may be raised, so once it is decided, it will not end. Therefore, in this article, we will explain what the repair fund is used for, and then introduce the market price of the repair fund and the reason why the price increases. What is a reserve fund for repair?In the case of a condominium, you have to pay a management fee and a reserve fund for repair in addition to the mortgage each month after purchase. Briefly, the management fee is a monthly fee paid by the resident to the management company for the daily management of common areas. The reserve fund for repairs is for the tenants to save the expenses through the management association in preparation for the maintenance and repair of the condominiums 10 to 20 years in advance. Please refer to the table below for each main use.
Accumulation based on a "long-term repair plan" that leads to the property of condominiumsTo explain in more detail about reserve fund for repair, in order to carry out the necessary repairs (maintenance of outer walls, repairs of common areas, etc.) to maintain the condominium over a long period of time, it is different from the management cost. In accounting, the thing to be saved is called reserve fund for repair. What is the market price of the reserve fund for repairs?Actually, how much is the market price to pay for the monthly reserve fund for repair? According to the 2013 version of the “Condominium Comprehensive Survey” that the Ministry of Land, Infrastructure, Transport and Tourism regularly surveys, the average management cost in 2013 was 10,661 yen per month, and the average amount of reserves for repairs was monthly 17,83 yen. In other words, in addition to the loan repayment amount, you can see that there is an average monthly burden of ¥21,444. By the way, looking at the market price of reserve funds for the 1999 version (1999), the average amount of reserve funds for repairs in 1999 was 7,378 yen. In other words, you can see that the price has risen by more than 30% in the last 15 years. The reason for the price increase So why has the price so much increased in 15 years? When repairing condominiums, it is important to perform appropriate repair work in a timely manner in response to deterioration over time of the building. To that end, it is essential to accurately create the aforementioned long-term repair plan and set the amount of reserve for repairs based on it. However, in the past, there was no guideline on how to formulate a long-term repair plan. Therefore, the Ministry of Land, Infrastructure, Transport and Tourism formulated it in 2008. Therefore, the long-term repair plan was reviewed accordingly, and the reserve for repairs was calculated again. In other words, the proper amount of money is being collected. Repair fund is not the same amount every yearThe amount of the reserve fund for repairs is the same every month every year, but that is not the case. It may be worth noting that in some cases it may increase over time. It seems that the longer the building age is, the more likely it is that the reserve fund will increase. When carrying out large-scale repairs, the reserve for repairs is often reviewed as a result of estimating repairs. Large-scale repairs are generally done every 10 to 15 years. The Ministry of Land, Infrastructure, Transport and Tourism's "Manual on Reconstruction Techniques for Condominiums by Renovation" shows an example of every 12 years, but even in that case, the reserve fund for repairs will be reviewed during large-scale repairs. It may be helpful to refer to it when purchasing. 5 Reasons Why Repair Reserve Funds Go UpLet's take a closer look at why reserve fund for repair might go up. The initial set amount is low The first reason is that the initial amount of reserves for repairs at the time of sale is low. Especially in the case of second-hand condominiums before the creation of the guidelines, it is highly possible that the initial set price is set lower than the appropriate amount, and as a result, the price will rise in the future. Step-up accumulation method with fixed price increase The second is when raising the reserve fund for repair price is a fixed collection method. There are two reserve fund reserve methods: the "equal fund reserve method" and the "staged increase fund reserve method." The equal fund method is a method of dividing required repair money by the planning period and paying the same amount every month. Therefore, the reserve fund for repairs will not change during the period. However, many condominiums use the latter method of gradually increasing reserves, and the reserve fund gradually increases in price. It is important to check carefully as you will be informed of the payment at the time of purchase. Market prices for repairs are rising The third is when the market for repair costs rises and the reserve fund for repairs rises accordingly. There is a concern that the workforce will decrease due to the aging of the population, and there will be a shortage of labor for construction workers, and such a shortage of labor will lead to soaring labor costs, resulting in higher repair costs. Implementation of large-scale repairs not originally planned Fourth, there are large-scale repairs that are not planned. When the building age has passed, the equipment, etc. will become old, so it is necessary to carry out large-scale repairs. Barrier-free construction and upgrade construction are not included in the long-term repair plan, and there is no reserve fund, so owners have no choice but to raise the price. Fifth, the cost is high because owners left everything to the management company. As a result of these factors, the fund for funded reserves continues to rise. Timing of price increase Now that we know the reason for the price increase, we would like to touch on the timing of price increases. The timing of price increase basically depends on which method is used to accumulate. It seems that the timing for raising the price with the equal fund reserve method is often after the completion of large-scale repairs. It can be predicted that the cost was higher than the estimate at the time of planning. In case of staged increase fund reserve method, the timing of price increase comes every few years. It is necessary for owners to be informed of this when you purchase the condominium and schedule it yourself. SummaryWhen purchasing a condominium, understanding the significance of the reserve fund for repairs and why the price will rise will change the criteria for choosing a condominium. Check whether the amount of the reserve for repairs will increase significantly or moderately, check the age of the building, and prepare in advance.
Please contact us for consultation on purchasing or selling real estate. Terms and interpretations commonly used in the real estate industryUsually used in the real estate industry, it is used as a matter of course or it is a business practice, and we will explain in a Q & A format such as words and ideas that are not familiar to the general public. Q - What is the standard for walking time from stations? A - Every 80 meters of road distance is converted to approximately 1 minute, and fractions less than 1 minute are rounded up to 1 minute and displayed. Q - How should the unit of width be viewed? A - 1 tsubo = 2 tatami mats (Jo) ≒ 3.3 square meters. It's a good idea to keep this in mind because you often make calculations such as square meters × 0.3025 = ○ tsubo. Q - What is the meaning of the symbols displayed on the floor plan? A - The meanings of the typical symbols displayed in the floor plan are as follows. L → Living D → Dining K → Kitchen S → Service room PS → Pipe space (drain and drinking pipes) UB → Unit Bus (Japanese English, meaning of modular bath) MB → Meter box (gas, water or electricity meters are installed) Q - The floor plan often says "S" Service room. What kind of room is it? A - Service room as "Nando" means a room with 3 tatami mats or less, or a room without windows. This is in accordance with the Building Standards Acts, which does not recognize a windowless room as a living room. There are some rooms that are treated as service rooms because there are no windows even if they are more than 8 tatami mats. Q - It is often called the unit price per tsubo, but how do you put it out? A - The result of dividing the sales price by the number of Tsubo (area) of the property. If the trading price is 25 million yen and the area is 50 square meters, it will be as follows. 25,000,000 yen ÷ 50 square meters = 500,000 yen (per square meter) 500,000 yen x 3.3 square meters = 1,650,000 yen (per tsubo) ⇒ unit price per tsubo Q - I want to buy only the land and build the building in the future, but can't it be the land with construction conditions? A - When a homebuilder sells land, it is called land with construction conditions. This is a land sales form, subject to a contract for building construction within a certain period (3 months). The contract type is a sales contract for land and a construction contract for buildings. If the building contract is not concluded within 3 months after the land purchase contract, the land purchase contract will be blank and all the money paid will be refunded. Therefore, in the case of land with construction conditions, it is not possible to purchase only the land. However, please be aware that some advertisements may look like advertisements for newly built homes, such as posting a large example of a building plan (floor plan). Q - Is there a consumption tax on the purchase of real estate? A - When buying a used home, it can be divided into a case where the seller is a corporation and a case where the seller is a general individual. If the seller is a corporation, the house will be a commodity and will be subject to consumption tax. However, in most cases, the tax is included, so the tax will be included. If the seller is a general individual, it will not be taxed as it is not a product referred to in the consumption tax law.
In addition, the purchase and sale of land is not a target of consumption in the first place, and the transfer is considered to be a simple transfer of capital. Whether the seller is a corporation or an individual, the tax is exempt under the consumption tax law. What is the "housing fire alarm" that must be installed in all houses?Due to the revision of the Fire Service Act, installation of a housing fire alarm in new homes is mandatory from June 1, 2006. All existing homes were obliged to install by May 31, 2011, and all homes were obliged to install housing fire alarms. There are several types of fire alarms, and the performance will vary slightly depending on the manufacturer. The fire alarm is for your own protection, so make sure you have the correct knowledge and install it properly. Here, we will explain the fire alarm for homes. Reasons for installing fire alarms in homes To begin with, a fire alarm is a device that detects a fire and gives an alarm, or the person who discovers the fire operates it to give an alarm. Housing fire alarms come in both power and battery types, and are typically mounted on the ceiling or the top of a wall. Currently, it is compulsory to install a housing fire alarms in a house, but there is no penalty for not installing it. However, due to the obligatory installation of fire alarms, the number of fatalities due to fire is decreasing year by year. Protect yourself and your family from a fire by thinking why you have to install a fire alarm, rather than simply thinking, “If we don't have any penalties, we don't have to install it.” Early detection of fire & prevention of escape delay By installing a fire alarm, you can expect early detection of fire and prevention of escape delay. According to the announcement by the Fire Department, out of the fires that occurred in 2017, accidental fires accounted for 70.5% of the total, and most of them were caused by carelessness and mishandling in handling fire. Cigarette fires are the most common, followed by arson, stove, and bonfire. Tobacco fires are mainly caused by misfires caused by sleeping cigarettes and cigarettes left unlit. Therefore, if a fire can be detected early and the fire can be extinguished early, the damage can be prevented from spreading. In addition, the cause of the most fatalities in the fire accident that occurred in 2017 was burns, followed by carbon monoxide poisoning, of which 46.8% of the fatalities were “escape delay”. In each case, if you can detect the fire early and escape, you should be able to reduce the damage as much as possible. About installation place of fire alarm for house Regarding the installation location of housing fire alarms, in principle, the bedroom and stairs are mandatory under the Fire Service Act, but other installation locations are specified by the municipal regulations. For example, in Tokyo, housing fire alarms are required to be installed in all rooms, kitchens, and stairs that are used all the time. Be sure to check with the fire department that has jurisdiction over your area when installing. About fire alarm types There are several types of fire alarms, and each has different detection timing and alarm method. After understanding the types of fire alarms, let's install a fire alarm suitable for the location. Smoke type Smoke-type fire alarms respond to "smoke" and give an alarm when smoke enters the fire alarm. The alarm sound varies depending on the manufacturer of the fire alarm, but in general, it often sounds an alarm such as "It's a fire! It's a fire!". Please install smoke fire alarms in your room, stairs, or corridor. Thermal type Thermal fire alarms respond to "heat" and give an alarm when the sensor reaches a certain temperature. The alarm sound is the same as the smoke fire alarm. Thermal fire alarms are suitable for installation in places where smoke type is not suitable, such as kitchen where steam and smoke are generated on a daily basis. However, the type of fire alarm installed in the kitchen may be stipulated by the municipal regulations. Check with your local fire department in advance as well. If not specified, you can install either the smoke type or the thermal type, but the Fire Department recommended installing the smoke type in the kitchen as well since the smoke type can detect a fire earlier. Flame sensitive An alarm is issued by detecting the infrared rays and ultraviolet rays contained in the flame. If it is a smoke type or a thermal type, an alarm sound will not be emitted unless it reaches a certain amount of smoke or heat amount, but if it is a flame detection type, it has a wide monitoring range and will detect and notify even a slight flame. Fire/gas leak reaction type Some fire alarms are available on the market that detect and inform you of gas leaks. Consider installing a fire/gas leak reactive fire alarm in locations where gas may leak, such as in the kitchen. Auxiliary alarm device Since the auxiliary alarm device emits light as well as sound to notify you of a fire, you may consider installing it in people with impaired eyes or ears, or in homes with the elderly. Let's perform regular maintenance and try to detect fires early
Housing fire alarms are not always safe and secure once installed, and any fire alarm requires maintenance. The fire alarm has a switch and cord for inspection, so check the operating status as appropriate. If the battery is dead, you will hear a different sound than the alarm sound. If you think the battery is dead, please contact the fire alarm retailer or the manufacturer, or replace it with a new one. Also, if dust or a spider web is attached to the part that senses smoke, it may not operate properly, such as delaying detection. Be careful to perform maintenance once every six months by wiping the dust off the sensing area with a cloth. 7/2/2020 What is the difference between Earthquake Resistant and Seismic Control and What are the Reinforcement Costs?Read Now In order to have a safe housing in Japan, which is an earthquake-prone country, it is necessary to adopt a structure that can withstand a large earthquake that can occur at any time. This time, we will explain the differences between the structures of seismic isolation, earthquake resistance, and seismic control, and the features of each. Also, please refer to the cost of earthquake-proof reinforcement. ■What is the difference between Seismic Isolation, Earthquake Resistance, and Seismic Control? Earthquakes are the most vigilant risk in Japan to attack homes. Research on construction methods that can withstand earthquakes has been carried out for a long time, but the mainstream in recent years is either seismic isolation, seismic resistance, or seismic control. First of all, let's know the characteristics of each and sort out the differences. Seismic Isolation: Absorbs Shaking Seismic isolation is a structure designed to absorb vibrations and prevent damage from being directly transmitted to buildings when an earthquake occurs. A special device is installed between the foundation and the building, which absorbs the shaking, so that you do not feel too much shaking. In addition to general earthquakes up to a seismic intensity of around 3, when a large earthquake with a seismic intensity of 5 to 7 class occurs, the shaking does not reach the core of the building, reducing the risk of damage.Originally the structure of the Machiya was the vibration absorbing structure, where the pillars were built on stones set up on the ground, and without the use of nails, the bending of the tree disperses the power of the earthquake. Earthquake Resistance: Withstands Shaking In the event of an earthquake, a structure with enough power to prevent buildings from collapsing is earthquake-resistant. By constructing the building from the foundation solidly, even if a large amount of energy is applied to the building, it will avoid destructive damage such as collapse and protect the lives of people inside the building. The Building Standards Act has been revised many times so far, but especially since it was stipulated in the 1981 revision to improve earthquake resistance, many of the houses built after that have earthquake resistant structure. Seismic Control: Control shaking Seismic control is a structure in which a special device is embedded in a sturdy wall, and the device absorbs the shaking generated by an earthquake and controls it so that it does not propagate. It has a structure that allows the building itself to be controlled so that it does not shake, and has the advantage of preventing the furniture and home appliances that are installed from falling over. The Kumamoto Earthquake of April 2016 also damaged a relatively new wooden house. Depending on the type of earthquake, even a house with earthquake resistance cannot be relieved. If you live in an old wooden house, you may be more concerned. How much does one cost when considering earthquake-proof reinforcement? We will explain about seismic retrofitting of wooden houses.
■What is a wooden house that requires earthquake resistance? The need for seismic retrofitting of a house is first judged by whether it is a wooden house under construction before May 31, 1981. Among the houses that apply to the above, wooden houses that have the following features require seismic reinforcement. 1) Wooden house with continuous openings on the south side and no walls at the four corners of the building 2) Wooden house with relatively large cracks on the outer wall and foundation 3) Wooden house standing in an area with poor ground (liquefaction, etc.) 4) Wooden house with problems in verticality of columns and walls and horizontality of floors 5) Wooden house whose plane shape is complicated 6) Wooden house with tiled roof (thatched roof) and mud wall 7) An old folk house with a pillar size of 12 cm x 12 cm or less ■Seismic retrofit construction costs Construction costs, including reinforcement design, vary depending on the seismic performance of existing houses. For example, changing the current tiled roof to a metal roof to improve seismic performance costs 1 million yen or more depending on the scale of the house. In general, the cost of earthquake-resistant repair per wall with a width of 91 cm is about 100,000 yen. Also, if you add a concrete foundation, it will cost about 50,000 yen per 1m. The general construction cost will be approximately 1 million yen or more, depending on the scale of existing houses and earthquake resistance. If you also carry out renovation work at the same time, additional costs will be required. If you purchase an old house and consider renovating the building, consider seismic retrofitting together. It is possible for the architect to give advice from various points of view, such as the method of seismic reinforcement. If you are considering a refurbishment, please contact us. What are the new earthquake resistance standards after 1981? Explain the difference from the old earthquake resistance standards Have you heard of the word (new Earthquake Resistance Standards have been adopted since 1981) as property information, or have you seen that it says new Earthquake Resistance Standards or old Earthquake Resistance Standards? Earthquake Resistance Standards is divided into new Earthquake Resistance Standards and old Earthquake Resistance Standards since 1981. How are these new and old Earthquake Resistance Standards different? Therefore, this time, we will explain the new Earthquake Resistance Standards since 1981, and the differences between the new Earthquake Resistance Standards and the old Earthquake Resistance Standards. If you would like to know more about Earthquake Resistance Standards, please refer to it. Earthquake Resistance Standards are the criteria for the durable structure of a building against earthquakes during the design stage of the building. The Earthquake Resistance Standards have been revised and the Earthquake Resistance Standards applied after June 1, 1981 are now became to called “new Earthquake Resistance Standards” and the standards applied before that are called “old Earthquake Resistance Standards”. In 1950, it is a standard set by the Building Standards Act for the purpose of protecting human life and property, and also sets standards for building sites, structures, and equipment. There is a rule that all buildings in Japan today must comply with this standard. The Earthquake Resistance Standards have been reviewed in response to the great earthquakes that occurred in the past. Due to the damage caused by such a great earthquake, the old Earthquake Resistance Standards were reviewed and the new Earthquake Resistance Standards were newly established. Which buildings are built under the new Earthquake Resistance Standards? Buildings that meet the new earthquake resistance standards are those that have been approved after the implementation of the new Earthquake Resistance Standards, to the best of our knowledge, it is said that the new Earthquake Resistance Standards have been applied to buildings completed after September to October 1981. However, there are cases where even the building built in 1982 was built with old Earthquake Resistance Standards. In the case of condominiums, the construction period is about one to one and a half years. Even if the building confirmation of the condominium was received in June 1981, it is considered that the new Earthquake Resistance Standards are applied to the building completed in the summer-autumn 1982 at the earliest. What if you want to know whether the Earthquake Resistance Standards of a building is Old or New?
To find out whether the house you are currently living in or the building you are considering to buy is built with old Earthquake Resistance Standards or new Earthquake Resistance Standards, please check the date on which the building confirmation application for that building was accepted. If the date of issue of the building confirmation notice is June 1, 1981 or later, it is a new Earthquake Resistance Standards building, and if it is before May 31, it is an old Earthquake Resistance Standards building. If the property has a building confirmation, there is a building confirmation notice available. In the unlikely event that owner have lost the building confirmation notice, you will need to request the issuance of a certificate of the items listed on the confirmation ledger at the window of the local government or government office. Please note that if the property is too old, it may not be stored. Difference between Old and New: Earthquake Resistance Standards changed to Seismic Intensity of 6 The big difference between new Earthquake Resistance Standards and old Earthquake Resistance Standards is the magnitude of seismic resistance standards. The old Earthquake Resistance Standards stipulates that "buildings will hardly be damaged by an earthquake with a seismic intensity of 5 or higher," and a standard was set to withstand medium earthquakes. However, the damage from the 1978 Miyagiken-Oki Earthquake was greater than expected, the earthquake resistance was reviewed as it is expected that the old Earthquake Resistance Standards will cause significant damage even if a large-scale earthquake does not occur. Focusing not only on preventing buildings from collapsing due to an earthquake but also on ensuring the safety of people inside the buildings, the new Earthquake Resistance Standards set up based on the standard of "withstanding an earthquake with a seismic intensity of 6 or more" and take measures against large earthquakes. In addition, it is possible to reinforce the building of old Earthquake Resistance Standards to the same extent as new Earthquake Resistance Standards by renovation. However, since the structural design is different from the beginning, the idea is to strengthen it, and it is not always the same as the new Earthquake Resistance Standards. In the budget, please make a detailed discussion in the meeting about which part will be used to reinforce the building, which part will be replaced with new equipment and make it clean and beautiful property. When considering the purchase of real estate, is it possible to make a judgment without looking inside the property? If the property is for investment and you know the expected yield, purchase price, age of the property, number of minutes walk from the nearest station, and local environment, you may not need a preview. However, if the real estate to be purchased is your own second house and you spend off in Kyoto, is it possible to make a decision without seeing it with your own eyes?
If real estate is ready-made goods such as cars, it may not be so difficult to make a decision if you know how it is based on the number of years that have passed. However, there is no one real estate in the world, the specifications of the building are various, is difficult to figure it out that the environment of the area, the atmosphere that the building emits, the slight slope, etc., unless you actually walk around and visit the property. With that in mind, when buying a real estate, if the purpose of the real estate purchase is to come to Kyoto, enjoy a leisurely vacation, enjoy a different culture, and spend a new discovery, we would like you to see the real estate with your eyes and make a decision. For that reason, we were skeptical about remote guidance. However, if the real estate you select is for investment purposes or if it helps narrow down the properties before coming to Kyoto, it is also good to remotely look inside the property or provide photos based on the floor plan with a 360° camera. Thinking about this, we decided to purchase new equipment and add new pages to existing sites for more details with 360° view properties, start taking new photos from this week. Also, if you would like to get a remote preview, we can guide you on WhatsApp, Skype, Messenger, Hangout, WeChat and Line. Since there are restrictions on the times and days of the week that we can inform you, if you would like to visit remotely, please contact us in advance and we will adjust the schedule. If you have a property that you would like to visit, please contact us. When signing the contract, the buyer and seller will each show their ID. In the case of an individual, it is a driver's license, and in the case of a corporation, it is a certified copy of the company register and identification of the representative. Although it was not a difficult case, the seller's corporation originally registered the head office in Kyoto. When the seller moved to Tokyo to expand his business, he closed the corporation in Kyoto and registered a new head office in Tokyo. The owner's name in the real estate registry is the same, but the address is different.
What needs to be corrected this time is to change the address of the seller's corporation in the real estate registry to Tokyo. Also, since the content of the registered corporate seal is different, as a solution, ・Use the existing seal as it is and change the name of the seller in the contract ・Delay the contract until a new seal is created, and sign the contract at a later date ・Use the existing seal as it is, change the representative of the seal certification, and sign the contract as it is. When the head office was in Kyoto, there was only one representative director. When they moved to Tokyo, the original representative did not have permanent residence and he wanted to use a bank loan, so thye invited another director and added one representative director. This is the reason why the name of another officer is written on the seal certificate. What we thought this time is that the seller should finish the contract safely without the seller having to do much work, and let the buyer purchase the real estate with peace of mind. To correct the name on the contract, recreate a new document and ask the buyer to re-sign it. Or, correct the part with a double line and stamp the correction mark and re-enter correctly. It takes about a week to make a new seal, even seller place an order in a hurry. In the meantime, the buyer will have to wait, but buyer feel uneasy when we think about it. The buyer has just finished imprinting the seal on the contract and is depositing the down payment with the real estate agent, but if the seller does not sign it, it will naturally cause anxiety. Therefore, as a result of consultation with the seller, seller will use the current stamp as it is to sign and seal, and in parallel, change the representative listed on the seal stamp certificate at the Legal Affairs Bureau. By doing so, each buyer and seller will sign and seal the contract, and the name of the legitimate representative will also be printed on the seal certificate that will be acquired at a later date. Originally, seller appointed another representative only to use the bank loan, so they will have this contract take the opportunity to change it to the correct form. As a real estate agent on the seller side, we will explain the above to the real estate agent of the buyer so that they will understand and proceed with the procedure. For future plans, we will meet with the seller on Monday to complete the contract. First of all, we will do this firmly, next we will get other documents stamped by the seller and proceed with the procedure for settlement such as public certificate. We will discuss the movement of furniture locally and prepare for the delivery at the end of July. Intermediating the buying and selling of real estate causes various problems each time. Agreement of contract contents, acceptance of payment, delivery status, preparation of required documents, etc. We will try to find a solution each time, make the seller feel comfortable selling, and let the buyer imagine the future after purchase, and make a pleasant transaction. We sincerely wish the buyer a pleasant life in Kyoto with this transaction. Today we will explain the practice of vacation house management. This column is creating a post during the patrol of vacation house management. One of the practical tasks of vacation home management is patrol of properties. We also make patrols in detached houses and apartments, and also discard mail. Although it is an option, we will enter the house at the request of the owner and ventilate and pass water. Most of the mails do not require unnecessary leaflets, but if there are bills and usage details such as water and gas, etc., take a scan or discard them separately. After arriving at the site, the first thing to do is to discard the mail. In the case of condominiums, there may be a trash can near the mailbox, but if there is no wastepaper basket, the trash will be taken back to the office. After entering the room, first open all windows. If a circuit breaker is turned off, turn on the power and check the room. Also, if there is a garden, check the planting situation and report to the owner if we need help of gardener. As it's still good at this time of year, but it gets hotter in August and September, so check whether the trees are growing well. After that, pass water to the kitchen, washroom and toilet piping. The pipe has an S-shaped drain trap, which prevents sewage from rising from the pipe when there is water. However, if the vacant term is long, this water dries and the smell of sewage spreads indoors. This is why the area around the washing machine often smells. If you do not install a washing machine nor do not use it, cover it with cellophane etc. to prevent the smell. Basically, if water is passed for 3 minutes, the water in the drain trap can be replenished and the water in the pipe can be passed. Ventilation will be performed for 30 minutes in the room, so during this time, scan the various documents that have arrived in the mailbox and upload the necessary documents to the shared folder. Name each document by including the content and date of the document. Invoices, etc. are stated in the documents that have arrived from the last meter reading date to this meter reading date, so put them in the file name as well. By doing so, the owner can easily check what documents, when payments, etc. details are. When we are visiting the condominium, if it is during the time when the manager is there, we greet them and talk about whether it has changed or when the owner will come next. By doing so, if there is something in the period of vacant, we will get in touch from manager immediately. Even while the owner is visiting Japan, they will be able to take care if there are any problems, and they will be able to help in the event of an emergency.
By the way, in many cases of vacant house management, we keep one set of keys. Trust is the most important base, so we store and manage the keys with care. As it will take time for the new tourist visa this moment, but we do this kind of work every month, and we look forward to the owner's arrival in Japan. As we mentioned yesterday, the seller was changed to 3 choices of general individual, general corporation or real estate agent due to the revision of civil law. Today, we will explain about the case where the seller is General Corporation. The revised Civil Code, which came into effect on April 1, 2020, established a "nonconformance liability" as a provision equivalent to the defect liability before the revision. In this "liability for non-conformance", in addition to the right to cancel and the right to claim damages, which were previously recognized under the liability for defects, the right to request completion (repair, replacement of the target object, delivery of the lacking part), reduction of the price, the claim right is recognized by civil law. In addition, if the reason is due to contract nonconformity related to type or quality, the buyer must notify the seller within one year from the time when he/she knows the contract nonconformity in order to pursue the seller's contract nonconformity ( Revised Civil Code Article 566). Regarding the contract non-compliance liability as described above, it's believed to be possible that to exempt the liability under civil law or to limit the scope of the liability and the exercise period by establishing a special agreement based on the agreement of the parties in the same way as the defect guarantee liability before the revision. However, since the purchase and sale of real estate is a large transaction, from the perspective of protecting the buyer, there are certain regulations in place to set special provisions to exempt or limit liability for nonconformance. In other words, the corporation, which was considered to be the same as the general consumer, was changed to a position which is more responsible than the general consumer from April. The following are the actual required documents at the time of contract and property delivery when the seller is a general corporation.
Information for Registration Identification (title deed) Certification of Registered Company Seal Identity Verification Documents for Representative Director (person with the above certification) Fixed Asset Evaluation Certificate or Fixed Asset Tax Statement When establishing a corporation, it is possible to appoint multiple representative directors of the company. In that case, multiple persons will be registered as officers and representative directors in the certified copy of the company. In addition, when registering the representative seal of a corporation, the representative name of the corporation seal and the individual name of the representative director are registered as a set, so it is possible to register the representative seal of the corporation seal separately with multiple names. Therefore, when obtaining the above-mentioned company seal stamp certificate, it is necessary to have documents for verifying the identity of the person who has the seal stamp certificate. With this in mind, it is necessary to reconfirm the name of the corporation, which representative director's name is to be entered in the real estate sales contract, and which person's identification documents are required. The other day, we received an application to rent a property at renovated Kyo-Machiya, where we manage the building. It is a renovated townhouse that was purchased by the owner last year. The house had been occupied since early fall of last year, but the tenants moved out this spring. Due to the effects of the COVID-19, the property has been vacant since then, but we were able to get an application the other day. The contractor is an individual who lives in Tokyo, but he is going to start a new business in Kyoto while he keeps his current job. This time we will use 4C'S Co., Ltd. as a guarantor on contract. Today, we would like to introduce this company, which is also our partner company. Company Name 4c’s Co., Ltd. Business Real estate guarantor service Headquarters 〒105-0004 4c's Shimbashi BLDG. 5-13-7, Shimbashi, Minato-ku, Tokyo Japan 〒530-0001 Osaka Ekimae Daiichi BLDG 5F. 1-3-1, Umeda, Kita-ku, Osaka-shi, Osaka Japan Customer Support Center 〒812-0013 4c’s Hakata BLD. 1-9-5 Hakataeki Higashi, Hakata-ku, Fukuoka-shi, Fukuoka TEL : +81-92-433-3725 FAX : +81-92-441-3726 Open Hours : 10 a.m.-5 p.m. (Except New Year holidays) 4C’S GUARANTEE SYSTEM 4c’s guarantee system is the service that 4c’s will pay rent instead of tenants who made contract with 4c’s when they cannot pay their rent. Each country has different rules to rent a room. Today, it is general to use the guarantee system when people lease a room from a real estate agent in Japan. Most of landlords expect tenants to sign up the contract of guarantee system, and it is one of the important conditions to lease a room from real estate agents in Japan. In order to ensure untroubled living conditions for both of landlords and tenants, our guarantee system is necessary. 4c’s understand that it is hard to get used to different cultures and customs, so let us support you when you try to start new life in Japan. The following inset shows you how 4c’s guarantee system is concluded among landlords, tenants and 4c’s.
1. Object of contract
5. About guarantee system and warranty scope
7. About guarantee charge (initial cost) In order to use 4c’s guarantee system, it is necessary to pay guarantee charge. Basically, the charge amount is equal to the monthly rent (minimum charge is 35,000 yen); however, there is a few discount service.
The above are the contents of the guarantor company and the details of payment. When you sign a lease contract in Japan, a guarantor company is required in most cases nowadays.
Therefore, you will need to use one of the above mentioned companies or a similar company, please contact your brokerage for more information. |
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AuthorArrows International Realty Corp. Archives
June 2023
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